Los Angeles Foreclosure Listings

By: philip smith

There is much that is special, often spectacular, about the property in Los Angeles foreclosure listings. For one thing the numbers are staggering. Yet another spike in foreclosure activity in August shoved 11,000 more residential properties out into a saturated and sluggish real estate market.

Los Angeles County is noted as the most populous county of the nation, and its 10 million residents make up around 25% of all Californians. Many areas of the county are densely urbanised. Yet even with close on one quarter of the nation's foreclosure filings in August recorded in California, the challenge still remains to find affordable homes anywhere in Los Angeles county. In the quarter to 30 June, only 3% of homes sold in the Los Angeles metro area could be afforded by the average household, according to a CNNMoney.com recent article.

The high housing prices and cost of living of this large county are renowned across the states.

Home prices are now trending down, some reports say over 7% this year to date. That's a start but nowhere near enough to bring the average home within the reach of many would-be buyers. A compelling reason for you to start your search among the foreclosures listed in almost every one of the 88 incorporated cities and many other unincorporated areas. If average sales prices of foreclosures have achieved 20% plus savings in recent months, chances are you will find more than one family home that suits both your pocket and your family's immediate needs, when just a few months back you would have thought that impossible. The online listings service providers will display all the current foreclosure listings from county records, banks, government institutions and MLS to get you on your way. Make sure you find a real estate agent who really knows his stuff, has experience of foreclosure sales and working with the banks, and has been around your desired location for some time. Going it alone is unlikely to achieve a successful outcome for a newcomer to foreclosure investing, and an experienced agent together with a professional appraiser who also knows the neighborhood well, will guide you carefully through some of the intricacies and traps for the unwary. Investors call it 'weeding' the field; in reality you want to find just that one special incredibly well priced home.

Foreclosures
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